Paddy Power Betfair (LON:PPB) was downgraded by analysts at Berenberg Bank to a “sell” rating in a research note issued to investors on Thursday. They presently have a GBX 7,600 ($103.06) price objective on the stock. Berenberg Bank’s target price points to a potential downside of 10.17% from the stock’s current price.
PPB has been the topic of a number of other research reports. lowered their target price on Paddy Power Betfair from GBX 6,900 ($93.57) to GBX 5,700 ($77.30) and set a “reduce” rating on the stock in a report on Thursday, September 21st. Barclays reaffirmed an “overweight” rating and issued a GBX 9,000 ($122.05) target price on shares of Paddy Power Betfair in a report on Monday, September 25th. Citigroup reaffirmed a “buy” rating and issued a GBX 8,700 ($117.98) target price on shares of Paddy Power Betfair in a report on Monday, October 2nd. Deutsche Bank reaffirmed a “buy” rating and issued a £105 ($142.39) target price on shares of Paddy Power Betfair in a report on Monday, October 2nd. Finally, Macquarie assumed coverage on Paddy Power Betfair in a report on Wednesday, October 11th. They issued an “outperform” rating and a GBX 8,500 ($115.27) target price on the stock. Six analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of GBX 8,082.50 ($109.61).
Shares of Paddy Power Betfair (LON:PPB) traded up GBX 55 ($0.75) during mid-day trading on Thursday, hitting GBX 8,460 ($114.73). The company had a trading volume of 195,637 shares, compared to its average volume of 110,375. Paddy Power Betfair has a 1-year low of GBX 6,572.50 ($89.13) and a 1-year high of GBX 8,967 ($121.60). The company has a market cap of $7,140.00 and a P/E ratio of 5,388.54.
In related news, insider Alexander Gersh sold 20,000 shares of the business’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of GBX 8,273 ($112.19), for a total value of £1,654,600 ($2,243,829.67).
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